Swiss banks cutting U.S. clients loose
China News.Net
Swiss banks are shunning business from the U.S. amid concerns over legal issues and prospects for tighter regulation.
Obama still popular despite weakening economy, employment
China News.Net
The U.S. jobless rate rose to 9.5 percent last month -- the highest figure in 26 years. In the short term, the jobs report is a political setback for President Barack Obama and his economic policies. But the latest opinion polls suggest the president continues to hold public support despite the weak economy.
European equities mixed, U.S. markets closed
China News.Net
Some markets in Europe closed higher Friday, while others lingered.
657 billion cigarettes a year sold on black market
China News.Net
The global tobacco industry is under attack from pirates that are ripping the heart out of cigarette sales.
Qatar Airways to launch flights to Australia later this year
China News.Net
Qatar Airways will begin operating flights to Australia before Christmas and in time for the holiday season.
Industries being reinvented in Pearl River Delta
China News.Net
The role of design in reinventing the world's factory was in the spotlight at a recent conference organised by the Hong Kong Design Centre.
Saudi Arabia shuts down 27 food stores over health concerns
China News.Net
Twenty seven retail food outlets in a Saudi Arabian city have been shut down by health authorities.
Sahara pipeline to transport gas from West Africa to Europe
China News.Net
Nigeria, Algeria and Niger have signed an agreement to build a pipeline across the Sahara that would link Europe to big west African gas reserves.
Fashion piracy causing concern in Hong Kong
China News.Net
Hong Kong fashion designer Jing Wong has encountered fashion piracy first-hand.
New 203 room hotel opens in Mumbai this week
China News.Net
International hotel chain Novotel, opened its doors this week in Mumbai, the financial capital of India.
BetaPro sells unit stake to National Bank Financial Group
Financial Post
Canadian exchange-traded-funds management company BetaPro Management Inc. has sold a 20% stake of its subsidiary AlphaPro Management Inc. to National Bank Financial Group.Adam Felesky...
Post-Madoff era of scrutiny will last about 15 minutes
Financial Post
Burt Ross, one of the 8,000 aggrieved former clients of Bernie Madoff, made an eloquent statement after the US$65-billion Ponzi schemester was sentenced this week to 150 years behind bars. "What...
Golf course, toxic plants up for grabs in GM
Financial Post
As General Motors Corp. prepares to sell its best assets to a streamlined new entity, the worst of what it owns will be auctioned off in bankruptcy court, including contaminated factory sites...
U.S. loses equivalent of every job created this decade
Financial Post
An unemployed man who lives in a camper van on Venice Beach in Los Angeles on 2009. The U.S. unemployment rate has risen to 9.5% after more than 400,000 jobs were lost during the...
Tax shelters leaving investors out in the storm
Financial Post
As the CRA cautions, it’s very important to get independent financial, tax and legal advice before investing in a tax shelter — and not from someone connected to the scheme or to the promoter.
Flaherty warns of higher unemployment levels
Financial Post
Canada's Finance Minister Jim Flaherty speaks to journalists during the "Hemispheric Responses to Global Economic Instability" conference in Santiago 2009.
Warren Buffett donates US$1.5B in Berkshire shares
Financial Post
Billionaire investor Warren Buffett has donated about US$1.5-billion in Berkshire Hathaway Inc stock, in connection with his 2006 pledge of his holdings to charitable causes.According to...
J&J buys US$1-billion stake in Alzheimer drug maker
Financial Post
Johnson and Johnson is take over most of Elan Corp. Alzheimer's research and invest US$1-billion in new Elan equity in exchange for an 18.4% stake in the Irish drugmaker, the companies said...
Recovery hopes buoy Wall Street
Financial Post
U.S. stocks rose on Wednesday, the start of the third quarter, as reassuring manufacturing data from China, Europe and the United States reinforced hopes that the world's economy is on...
Woods tops Sports Illustrated
Financial Post
Tiger Woods, 33, had US$7.7-million in winnings and US$92-million in endorsement income to top SI.com’s “Fortunate 50” list for the sixth time in the six years it’s been published by the...
Oil glut could pus gas prices below $2 gallon
Newsday
A cab driver fills his tank with gas this past month just as gas prices began their ascent. Experts are now saying the glut of oil could bring prices below $2 a gallon.
Livent sentencing hearing to begin Monday
Financial Post
Garth Drabinsky (left) and Myron Gottlieb (right), once co-owners of the now defunct theatre production company, Livent Inc., leave court after the opening day of their fraud trial in May 2008.
Lear to file for bankruptcy protection
Financial Post
Auto seating supplier Lear Corp said on Wednesday it would file for Chapter 11 bankruptcy protection in a reorganization supported by key secured lenders and bondholders and that it had...
